A Silicon Valley-based investment firm is launching a massive $4.5 billion digital assets fund as crypto markets continue to see widespread stagnation.
According to a new letter penned by Andreessen Horowitz general partner Chris Dixon, the venture capital giant is launching the latest fund because the world is entering into the “golden era” of Web 3.0 development.
[adinserter block="1"]“Since the advent of computing in the 1940s, there has been a major computing cycle every 10-15 years, including PCs in the ‘80s, the internet in the ‘90s, and mobile computing in the ‘00s.
We believe blockchains will power the next major computing cycle, which we call crypto or Web 3.0… we think we are now entering the golden era of Web 3.0. Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users.
More importantly, a massive wave of world-class talent has entered Web 3.0 over the last year. They are brilliant and passionate and want to build a better internet.”
According to Dixon, Andreessen Horowitz will use the funds to invest in emerging Web 3.0 technologies, such as metaverse games, decentralized finance (DeFi) and social media protocols, non-fungible token (NFT) communities, decentralized autonomous organizations (DAOs), as well as new applications for zero-knowledge (ZK) rollups.
In a new interview with CNBC, another partner of the firm, Arianna Simpson, says that crypto winters are perfect times for launching investment funds as the market is more focused on upgrading the underlying technology of blockchains rather than worrying about price volatility.
As stated by Simpson to CNBC,
“Bear markets are often when the best opportunities come about when people are actually able to focus on building technology rather than getting distracted by short-term price activity.”
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